Macy's Q1 Earnings Report: What You Need To Know

Macy's net sales in its first quarter amounted to US$5.54bln, coming in ahead of Wall Street's expectations of US$5.4bln.

M stock was up 9% as of Wednesday morning.

Like its peers, Macy's has faltered in the past few years as it struggled to adjust to a market where shoppers increasingly buy goods online. Royal Bank of Canada set a $26.00 price objective on shares of Macy's and gave the stock a "hold" rating in a research note on Friday, January 19th.

Just last week, Morgan Stanley downgraded Macy's shares, citing declining sales and profit "pressure" from online players for the ratings change. 1,175,559 shares of the company traded hands, compared to its average volume of 10,118,120. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.45 and a current ratio of 1.47. Macy's Inc. has a twelve month low of $31.77 and a twelve month high of $33.75.

Macy's (NYSE:M) last released its earningsresults on Tuesday, February 27th.

The company posted a net income of $139 million, or $0.45 per share during the quarter.

In the year-ago period, Macy's reported an adjusted profit of $0.24 a share on revenue of $5.34 billion. The firm's quarterly revenue was up 1.8% compared to the same quarter previous year.

Investors were elated. Shares of Macy's surged 7% on the news.

Macy's isn't the best day trading stock but with a move like this in the premarket we should see plenty of opportunity on this name today. Apart From this, the company estimates that comparable sales were up 1.7 percent on an owned plus licensed basis. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The stock was sold at an average price of $29.39, for a total transaction of $1,984,265.85. Following the sale, the director now directly owns 16,184 shares of the company's stock, valued at approximately $473,382. The disclosure for this purchase can be found here.

A number of hedge funds have recently bought and sold shares of the business. American International Group Inc. increased its stake in shares of Macy's by 98.9% in the 4th quarter. The retailer's comps were more than three percentage points higher than the FactSet consensus of 0.7%, cited by MarketWatch, and top-line sales were more than $10 million higher than the FactSet consensus of $5.43 billion. There were no impairment and other costs in the first quarter of 2017. Dimensional Fund Advisors LP increased its stake in shares of Macy's by 13.6% in the 1st quarter. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Macy's by 22.6% in the fourth quarter. It also operates as a spa and beauty products retailer.